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Enduring impact of charitable Covid19 Support Fund

Five years on from the start of the pandemic, the ABI’s latest report “From Crisis to Impact: What the Covid-19 Support Fund Delivered” has outlined the far-reaching impact of the £104 million raised by the insurance and long-term savings industry’s Covid-19 Support Fund (the Fund).
Posted on Thursday Jul 10

Reinsurance sector elevated insured losses moderates

According to Guy Carpenter despite global economic volatility and insured loss activity nearing $70 billion through the first half of 2025, reinsurance renewal trends seen at January 1 continued including: Strong reinsurer balance sheets driving appetite for growth. Excess property capacity and moderating pricing. Disciplined casualty underwriting. Reinsurer focus on holistic client relationships to grow their portfolios.
Posted on Thursday Jul 10

Global top 20 insurers report average premium growth

The global top 20 publicly listed insurance companies continued to demonstrate robust momentum in 2024, largely fuelled by a higher interest rate environment and significant investment gains resulting from favourable developments in equity markets. This was further supported by the ongoing digital transformation initiatives, strategic expansion into underpenetrated markets, and effective vertical integration strategies.
Posted on Wednesday Jul 9

Update to Fire Safety Reinsurance Facility

Following a positive first year, the insurance industry’s Fire Safety Reinsurance Facility (the Facility) has been expanded so that participating firms can now cover losses up to £75 million.
Posted on Tuesday Jul 8

Porsche drivers GBP74k injury claim derailed by dashcam

A fraudulent personal injury claim worth more than £74,000 has been foiled after dashcam footage revealed that the claimant – who alleged he was injured while sitting in his luxury Porsche – was in fact standing in the bushes at the side of the road at the time of impact.
Posted on Monday Jul 7

Insurance Market Outlook 2025

Against a constantly evolving macro-economic and geo-political landscape, the UK insurance market remained unchanged and buyer-friendly so far in 2025. The softening – decreasing premiums – witnessed across large parts of the market in the second half of 2024 continued. In these favourable conditions, it is important for businesses to consider their overall risk strategy and explore the available opportunities to develop and refine their risk transfer approach.
Posted on Friday Jul 4

57 percent of carriers to raise MGA capacity in next 2 years

Almost half (46%) of insurance carriers said they had increased capacity to MGAs in the past 12 months, according to Clyde & Co’s latest MGA Opinion Report. However, 77% of MGAs say the claims process needs improvement, a concern echoed by 91% of carriers. 46% of MGAs and more than a third (34%) of carriers cite regulation as the biggest barrier to growth for MGAs.
Posted on Thursday Jul 3

GBP800m of claims rejected due to common policy exclusion

£801.8 million worth of home insurance claims made for damages caused by pets rejected. 12.5 million pet owners unaware that pet damage is often excluded from home insurance cover. Thousands of owners may have seen premiums increase after making this mistake.
Posted on Thursday Jul 3

Cyber insurance as a risk mitigating tool

Morningstar DBRS released a commentary about cyber insurance as a risk mitigating tool against enhanced cyber risks affecting corporates, small and medium-size enterprises (SMEs), and banks in Europe.
Posted on Wednesday Jul 2

Car and home insurance premiums continue downward trend

Insurance premiums for both motor and home continued their downward trajectory in Q2 2025, but the latest data from Pearson Ham Group’s General Insurance Price Index points to a changing pace of movement – and a more nuanced pricing environment on the horizon.
Posted on Wednesday Jul 2

Jes Staley ban upheld over relationship with Jeffrey Epstein

The Financial Conduct Authority’s (FCA) decision to ban Jes Staley, former CEO of Barclays, from holding senior management roles in the financial services industry has been upheld by the Upper Tribunal.
Posted on Thursday Jun 26

Do not be left high and dry this summer

Aviva is urging caution as data reveals a correlation between warm weather and fire claims. Number of garden fire claims is already significantly higher in April and May this year, overtaking every other month in 2024. Lightning claims are also increasing. Average claim for fire involving a garden is valued at almost £16,000. Research shows that one in eight (12%) worry about fire safety during hot weather
Posted on Thursday Jun 26

7 California wildfire lessons learnt for European insurers

The devastating January 2025 wildfires in Los Angeles, which destroyed over 16 000 structures and caused insured losses of approximately USD 40 billion, offer critical insights for insurers across the UK and Europe.

Posted on Thursday Jun 26

Call for simplification of EU cybersecurity regulation

Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporting the objective of simplifying regulation, reducing administrative burdens, and ensuring a proportionate, risk-based approach.
Posted on Thursday Jun 26

QR codes may be convenient but they can also be dangerous

A new cyber threat for the unwary, deliberately aimed at exploiting the desire for convenience, is out there and trapping victims. Cybercriminals are actively corrupting QR codes with fake replacements, which have malicious links embedded in them. This is known as ‘Quishing’. When the unsuspecting victim scans the QR code, it takes them to a malicious website or downloads harmful malware onto the victim’s device which prompts them to input payment details.
Posted on Wednesday Jun 25

Wildfires are a growing global threat

Allianz Commercial report highlights wildfire hazard trends and stresses the need for companies to be aware of how their assets and operations could either initiate or be affected by a wildfire. The increasing severity and frequency of wildfires, coupled with the growing number of people affected, has driven a significant rise in related losses – becoming six times more expensive over a decade. Regulatory challenges and litigation related to wildfire liabilities are also on the rise, necessitating robust risk management strategies and well documented wildfire management plans. Technological innovations are enhancing detection and suppression capabilities.
Posted on Tuesday Jun 24

ABI welcomes the 10 Year Infrastructure Strategy

The government has published its 10-year Infrastructure Strategy, which includes a commitment to more funding and a long-term framework to support flood defences
Posted on Friday Jun 20

This is why your home insurance premiums have risen

The average cost for a combined home insurance policy was £393 in January to March 2025, according to the latest figures from the Association of British Insurers (ABI). This figure, while it did fall by £1 when compared with Q4 2024, has risen overall by 7% in the last 12 months.
Posted on Friday Jun 20

Over 90 percent of insurers embracing AI for data ingestion

The latest research from hyperexponential (hx), reveals that data ingestion is the most established AI use case across UK (95%) and US (89%) insurers, underlining the industry-wide progress in applying AI to core operations.
Posted on Thursday Jun 19

Car insurance premiums continue dramatic fall

Comprehensive car insurance premiums have fallen by 16% (£144) during the last 12 months, with UK motorists now paying £757 on average, according to the latest Confused.com Car Insurance Price Index in association with WTW.
Posted on Thursday Jun 19

6 in 10 at Glastonbury have possessions lost or stolen

61% of festivalgoers have lost their belongings or had them stolen while at a festival – the average value of lost or stolen items is £368. Wallets/money were the most commonly lost item (60%), followed by mobile phones (46%) and Jewellery (37%)
Posted on Thursday Jun 19

Is your business suffering from AI hallucinations

The Head of Cyber at Towergate Insurance, Marc Rocker, has issued a warning about the effect of AI hallucinations and highlights some alarming issues for firms using this technology. Mr Rocker said: “Despite the name, AI doesn’t think for itself - it simply draws from the data that has been inputted into it. Therefore, if the data is wrong, the AI will use this flawed information to draw a false conclusion, resulting in an ‘AI hallucination’.
Posted on Wednesday Jun 18

Reputation Risk Events can reduce shareholder value

Aon has released its 2025 Cyber Risk Report, revealing that cyber events that cause reputation risks can result in an average of 27 percent drop in shareholder value, highlighting the growing financial and reputational stakes of cyber risk.
Posted on Tuesday Jun 17

Air India plane crash to harden aviation reinsurance market

The fatal crash of Air India flight AI171 on June 12, 2025, has become a pivotal moment for the already tightening global aviation reinsurance market. This tragic incident resulted in the death of 241 passengers and crew members and marks the first-ever fatal hull loss of a Boeing 787-8 Dreamliner, considered one of the most advanced and safest airliners of the company.
Posted on Monday Jun 16

Culture of risk aversion among financial regulators

In its report, ‘Growing pains: clarity and culture change required’, the Financial Services Regulation Committee highlights that the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)’s secondary international competitiveness and growth objective is being held back by pervasive risk aversion, regulatory uncertainty, and inefficiency in the regulatory system.
Posted on Friday Jun 13